Swiss Industrial Production Rose Less Than Expected In The Fourth Quarte
GCI Financial | Mar 12, 2014 04:04AM ET
For the 24 hours to 23:00 GMT, the USD declined marginally against the CHF and closed at 0.8776.
In economic news, Swiss industrial production rose 0.4% (QoQ) in the fourth quarter, failing to meet market expectations for a 1.0% rise and compared to a 0.5% increase recorded in the preceding quarter.
In the Asian session, at GMT0400, the pair is trading at 0.8782, with the USD trading 0.07% higher from yesterday’s close.
The pair is expected to find support at 0.8763, and a fall through could take it to the next support level of 0.8743. The pair is expected to find its first resistance at 0.8804, and a rise through could take it to the next resistance level of 0.8825.
With no major economic release from Switzerland, during the later course of the day, traders would keep an eye on global economic news for further guidance in the pair.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
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